GALILEO MINING LTD — Investor Presentation 2022

Sep 12, 2022

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ELECTRIC FUTURE: PALLADIUM, PLATINUM, NICKEL, COPPER, COBALT, & RHODIUM IN WESTERN AUSTRALIA 1 INVESTOR PRESENTATION SEPTEMBER 2022 ASX: GAL

Disclaimer

This Presentation (“ or the “ has been prepared by Galileo Mining Ltd (ACN 104 114 132 ))(“ and is general background information about the Company and its wholly owned subsidiaries activities as at the date of this Presentation This Document is prepared for the benefit and internal use of the recipient (the “ It is provided on a confidential basis and the Recipient cannot reproduce in whole or in part any information provided in this Presentation or communicate the information of this Presentation to any third party without the prior written consent of the Company This Document has been prepared on the basis of publicly available information and certain confidential information The Company has relied upon and assumed, without independent verification, the accuracy and completeness of all such information, including forecasts It contains selected information and does not purport to be all inclusive or to contain all of the information that may be relevant to the Document The Company, its affiliates, officers, directors, employees and agents do not accept responsibility or liability for this Presentation or its contents (except to the extent that such liability cannot be excluded by law) No representation or warranty is made as to the Presentation’s accuracy or completeness and the Company assumes no obligation to update the Presentation’s information contained herein Any requests for information in connection with this Document should be addressed directly to the Company and to no other party

This Presentation may contain forward looking statements that involve risks, uncertainties and other factors concerning, among other things, the Company’s expected financial performance and strategic operational plans Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company The Company’s actual results could differ materially from the results expressed or implied by such forward looking statements, and reported results should not be considered as an indication of future performance It is not possible to accurately predict the future revenues or profitability of the Company or whether any revenues or profitability will eventuate The business of the Company is dependent upon a number of factors and many of these factors are outside the control of the Company This Document is not a prospectus under Australian law

this Document and the Company will not be responsible for any loss incurred by the Recipient as a result of any actions taken by them The Company represents a speculative business and involves a high degree of risk

Nothing in this Presentation constitutes the provision of financial or legal advice The Recipient should consider its own financial situation, objectives and needs, and conduct its own independent investigation and assessment of the contents of this Document, including obtaining investment, legal, tax, accounting and such other advice as it considers necessary or appropriate Further, nothing in this Presentation constitutes an offer for the sale of securities This Presentation does not constitute an offer or invitation in any place in which, or to any person to whom, it would not be lawful to make such an offer or invitation The distribution of this Presentation (including in electronic form) outside Australia may be restricted by law and persons who come into possession of this Presentation outside Australia should seek advice on and observe any such restrictions Any failure to comply with such restrictions may constitute a violation of applicable securities laws

The information contained in this Presentation is prepared as of 12[th] September 2022. Neither the delivery of this Presentation nor any offer, issue or sale contemplated by this Presentation at any time implies that the information contained in it is correct, that any other information supplied in connection with an offer of shares is correct or that there has not been any change (adverse or otherwise) in the financial conditions or affairs of the Company at any time subsequent to the preparation date In particular, the Company is not under any obligation to any person to update this Presentation at any time including after an issue of shares

This Document is provided to you on the basis that you are a sophisticated, professional or other investor who would not require a disclosure document because of section 708 of the Corporations Act 2001 (As it is not regulated by the Corporations Act, this Presentation does not purport to contain all of the information that would be contained in a prospectus or that recipients may require in order to evaluate whether to invest in the Company Any recipient of this Presentation is responsible for conducting their own due diligence and other enquiries as well as making their own analysis and their own independent assessment of the information provided herein You may wish to consult your broker, solicitor, banker, accountant or other professional advisor about its contents Any decision to rely on the information contained in this Presentation is the sole responsibility of the recipient of

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Key Messages

Well supported with largest shareholders being successful mining investor Mark Creasy and major mining company IGO High value palladium targets, nickel targets and an existing cobalt/nickel resource

Tier-1 mining jurisdiction with Fraser Range and Norseman projects located in Western Australia Track record of drilling with well planned and systematic drill programs ongoing

Early discovery market valuation and highly leveraged to further success Well funded and a with strong cash position of ~$7.0M[1 ] further $20.4M raised via placement in July with institutional & sophisticated investors

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(1) As at 30[st] June 2022

Cor orate Sna shot p p

Share Price (twelve months)

0 0.2 0.4 0.6 0.8 1 1.2 1.4 1.6 1.8 2 13/09/2021 4/10/2021 25/10/2021 15/11/2021 6/12/2021 27/12/2021 17/01/2022 7/02/2022 28/02/2022 21/03/2022 Volume		0 10 20 30 40 50 60 70 11/04/2022 2/05/2022 23/05/2022 13/06/2022 4/07/2022 25/07/2022 15/08/2022 5/09/2022 Millions Close	0 10 20 30 40 50 60 70 11/04/2022 2/05/2022 23/05/2022 13/06/2022 4/07/2022 25/07/2022 15/08/2022 5/09/2022 Millions Close	0 10 20 30 40 50 60 70 11/04/2022 2/05/2022 23/05/2022 13/06/2022 4/07/2022 25/07/2022 15/08/2022 5/09/2022 Millions Close

JORC Resources (see Appendix for details)

Cobalt 26,600 tonnes Nickel 122,500 tonnes

Ke metrics y

ASX Code GAL Shares on Issue 197.4m Share price (at 12[th] Sept. 22) $1.05 Market Cap ~ $207m Cash (at 30[th] June 22) $7.0 m with further $20.4m raised in July Enterprise Value ~$181m Options on Issue* 2.5m @ $0.52 (exp 09/23) 0.97m @ $2.40 (exp 07/24)

Enterprise Value Options on Issue

Substantial Shareholders

Mark Creasy	26.2%	4
IGO Ltd (ASX:IGO)	8.3%

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Highly Experienced Board

Brad Underwood Chairman & MD

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• Over 20 years in exploration, prospecting, and mining.

• Widely experienced in the strategic growth and commercialisation of mineral assets at different stages of development and over multiple commodity classes.

• Involved in the discovery and development of nickel, copper, cobalt, and gold resources.

• Over 10 years’ corporate executive level experience with multiple capital raisings and transactions for both private and listed resource companies.

Noel O’Brien Non-Executive Director

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• A metallurgist with wide international and corporate experience.

• Served on the board of a number of ASX listed companies over the past 10 years.

• Currently technical advisor to several listed companies.

• Expert in process and project development over a broad range of commodities including nickel, copper, cobalt, gold, PGEs, and lithium.

Mathew Whyte Non-Executive Director & Company Secretary

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• CPA and a Chartered Secretary (FCG & FGIA), with over 25 years’ experience.

• Held senior executive roles on a broad range of Australian listed entities.

• Served as Director and Company Secretary on multiple ASX company boards over the past 10 years.

Cecilia Camarri Non-Executive Director

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• A mining and commercial lawyer with both law firm and in house legal experience

• Advises TSX and ASX listed companies on the strategic management of legal risk 5

• Community and public relations management experience  Over 25 years’ experience in the exploration and mining industry

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Project Portfolio

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Strategic Commodity & District Focus

Norseman Project

Fraser Range Project*

• Numerous operating mines in the district

• Access to world-class infrastructure (road, rail, airport, City of Kalgoorlie, Port of Esperance)

• Recent discovery of significant palladium-platinum-copper-nickel-sulphide from RC drilling at the Callisto prospect

• 278km[2 ] of exploration and prospecting licenses

• Province scale palladium targets

• RC and diamond drill programs currently underway as a follow up to discovery drilling reported in May 2022

• Multiple anomalous palladium, nickel and copper assays from aircore drilling

• Emerging mineral province with operating Nova nickel mine (owned by IGO) and multiple prospects

• Two zones covering a combined 602 km[2]

• Management with extensive Fraser Range experience

• Two sulphide bearing intrusions found on GAL ground so far

• Untested EM targets at the Easterly and Green Moon Prospects

• Ongoing EM surveying to define new targets for drilling

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• 67% Galileo Mining/33% Creasy Group JV

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(100% Galileo)
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Norseman Project

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Highly prospective ground next to Town of Norseman

• 278km[2] of prospective ground at the southern end of the prolific NorsemanWiluna greenstone belt

• Premier project location:

• 10km from Norseman and the historic 5Moz Norseman gold mine

• Adjacent to sealed Coolgardie-Esperance Highway

• Access to gas, water, road and rail infrastructure

• 180km from the deep-water Port of Esperance

• New and highly significant Callisto discovery on granted mine lease

• Tenements are prospective for magmatic palladium-nickel-copper sulphide, komatiite hosted nickel sulphide, PGEs, gold, lithium, and nickel-cobalt laterite mineralisation

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• Current JORC compliant 25Mt nickel-cobalt laterite resource

Norseman Project – Callisto Discovery

Discovery of significant palladium-platinum-copper-nickel & rhodium

• An initial 6 RC holes (1,142m) were drilled at the Callisto Discovery.

• Discovery drillhole in May (NRC266) returned significant palladium-platinum-gold-copper-nickel-rhodium mineralisation:

• 33m @ 2.05 g/t 4E (1.64 g/t Pd, 0.28 g/t Pt, 0.09 g/t Au, 0.05 g/t Rh), 0.32% Cu & 0.30% Ni from 144m (NRC266)

• All RC drill holes completed contained significant zones of mineralisation and confirm initial results from the discovery drill hole;

• Strong geological continuity between all drill holes with sulphides occurring at the base of an ultramafic sill where it intrudes into sedimentary rocks

• Reported assays all occur within wider disseminated sulphide zones indicating the potential for a large mineralised system

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Norseman Project – Callisto Discovery

• A new palladium-platinum province in which Galileo controls all of the most prospective ground

• Second round of RC drilling at Callisto completed in July - 3,939m drilled over 16 drill holes and three pre-collars

• 16 holes have all returned palladium-platinum-gold-copper-nickel assays.

• Holes are being analysed for rhodium with first 4 holes returning consistent rhodium grades

• Highest grade palladium and platinum assays recorded to date with 8.25 g/t Pd & 1.94 g/t Pt over one metre in NRC275

• Mineralisation on the northern sections is continuing towards the surface with the shallowest intersections to date at ~110m depth (NRC285 & NRC287)

• Mineralisation open in all directions & extends over 300m across strike on the southern & central lines & over 200m across strike on the northern line

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Callisto preliminary geological section 6,448,050mN with target sulphide zone. Callisto preliminary geological section 6,448,100mN with target sulphide zone.
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Norseman Project – Callisto Discovery

Massive sulphides discovered

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Norseman Project – Callisto Discovery

Geological similarities to South Africa’s extensive Platreef palladium-platinum-gold-rhodium-copper-nickel deposits

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• Callisto shows similarities in mineralisation style to Platreef deposits on the northern limb of the Bushveld Complex, South Africa.

• Platreef mineralisation is contained within disseminated sulphides of less than 1% and up to 25% with rare massive sulphide.

• Callisto drilling to date has intercepted disseminated sulphide of less than 5% with sulphides increasing to the east.

• Platreef deposits are very large in nature and have combined indicated resources of >700Mt at a 1 g/t 3PGE + Au cut off (Reference: Platreef Integrated Development Plan 2020. Ivanhoe Mines Ltd)

• Contained metals at Platreef include palladium, .

• platinum, gold, rhodium, copper, and nickel 12

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Norseman Pro ect – Additional Pros ects j p

Jimberlana Prospect

• Aircore drilling program encountered massive nickel-copper-palladium sulphide just 60m downhole

• Assays include: 1m @ 0.24% nickel, 0.35% copper, 0.04% cobalt and 0.25 g/t palladium (from 60m in bottom of hole NAC105)

• Multiple EM conductors and anomalous aircore results that require follow up RC and diamond drill testing

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Massive sulphide intercepted in aircore drilling at Jimberlana

Mission Sill Prospect

• Palladium and platinum drill results over 9km strike length

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Norseman Pro ect – Next Ste s j p

holes) underway September

discoveries recovery

First diamond First assays Ongoing diamond Infill drilling of

Extent of Galileo’s Norseman project area with the interpreted 14

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Fraser Range JV Project (67% Galileo / 33% Creasy Group)

Thompson (Canada) vs Fraser Range (Australia)

Thomson Nickel Belt

 More than 10

deposits over 100km of strike length

 Total known resources of 146Mt

 Over 50 years of mining and exploration

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Fraser Range Nickel Belt  Two deposits with over 150km of prospective strike length

 Total combined resources of 18Mt at Nova and Silver Knight

 Immature nickel belt with untapped potential

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Exploration in the Fraser Range

Geophysics – the key to undercover discoveries

• Magnetic and gravity interpretation as a guide to the location of prospective intrusions

• Regional EM surveying to define target positions beneath cover rock

• Two intrusions with sulphides identified to date at separate prospects

• Lantern South: Mafic/Ultramafic intrusion with disseminated nickelcopper sulphides, 23m @ 0.19% Ni & 0.14% Cu LARC013D) and 41m @ 0.19% Ni and 0.14% Cu (LARC012)

• Delta Blues: Felsic/Mafic intrusions with semi-massive copper sulphide, 4m @ 0.29g/t Au and 0.29% Cu (DBRC001) and 4m @ 0.21g/t Au and 0.27% Cu (DBRC003)

Increased confidence in regional prospectivity

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•
•
mover advantage
•
intersected nickel-copper sulphides
•
airborne magnetic data
•
drill targets, is ongoing
Green Moon / Easterly
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E28/2797

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A Si
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P: +61 8 9463 0063 E: info@galileomining.com.au W: galileomining.com.au

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Appendix –
JORC
Resources
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Cut-off	Class	Tonnes Mt		Co		Ni
Cobalt %			%	Tonnes	%	Tonnes
MT THIRSTY SILL
0.06 %	Indicated	10.5	0.12	12,100	0.58	60,800
	Inferred	2.0	0.11	2,200	0.51	10,200
	Total	12.5	0.11	14,300	0.57	71,100
MISSION SILL
0.06 %	Inferred	7.7	0.11	8,200	0.45	35,000
GOBLIN
0.06 %	Inferred	4.9	0.08	4,100	0.36	16,400
TOTAL JORC COMPLIANT RESOURCES						21
0.06 %	Total	25.1	0.11	26,600	0.49	122,500

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